Calculate the price on the bond

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Reference no: EM132020291

Suppose you are given the following bond quote information:

Time to maturity: 20 years

Coupon rate: 8%

Yield to maturity: 6%

Par Value: $1,000

Assuming annual compounding, calculate the price on the bond. (Round to 2 decimals)

Please show work

Reference no: EM132020291

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